Kilian, Lutz; Nomikos, Nikos K.; Zhou, Xiaoqing - 2020 - This version: May 20, 2020
Gulf and the Far East. We study how fluctuations in oil tanker rates, oil exports, shipowner profits, and bunker fuel … costs, voyage profits decline, as cost shocks are only partially passed on to round-trip voyage rates. Oil exports from the … Arabian Gulf also decline, reflecting lower demand for VLCCs. Positive utilization shocks are associated with higher profits …